JADALA TRADERS Vs. ANDHRA BANK

JUDGEMENT

(1.) Heard Mr. P.Vishnu Vardhan Reddy, learned counsel for the petitioner and Smt. V.Dyumani, learned counsel for the respondent.

(2.) By filing this writ petition under Article 226 of the Constitution of India, petitioner seeks quashing of sale notice dtd. 7/10/2019.

(3.) Case of the petitioner is that it had availed financial assistance to the tune of Rs.6,00,00,000.00 as Secured Over Draft Loan (SOD) from the State Bank of India and thereafter from the respondent - Andhra Bank from its KMC Campus branch, Warangal. Because of unavoidable circumstances, there was default by the petitioner in repayment of the loan amount.